Market Update 2017 Andrew Smith

Real Estate Market January 2017

The market has been active in all price ranges for the start of 2017. There were 31 residential homes that sold last week in Kelowna ranging from a low of $335,000 for a 2 bedroom 1 bathroom starter home in Glenmore up to another home that sold for just under $6,000,000 for a lakeshore home deep in the Mission. We see the market continuing on this route for awhile with a low number of properties listed on the market for sale and buyers looking to buy it creates a sellers market. Homes that are well priced will receive offers the first week that they are listed.
There were 58 new listing brought to market last week which is a reasonable number for this time of the year.  This brings the number of homes for sale right now up to 753 which isn’t a reasonable number. Home owners who have been thinking of selling this is a golden opportunity to fill a void in the market and sell your home in a reasonable amount of time.
Still too early to even begin discussing averages or even touching on emerging trends but every single one of these 58 homes will generate clicks-drivebys-showings and if they’re priced reasonably well, they’ll get  offers.

Kelowna Real Estate Market 2017


Big White

Since it’s that time of year, this is as good a time as any to give a mention or two to Big White ski resort.  It really is one of the best things going during the winter here in Kelowna.  There are 55 properties for sale including two priced at $99,900.  Affordable investments and easy to rent during the times it’s not being used would make it pay for itself immediately.    At the other end of the spectrum there are four homes priced over $1 million and all are over 4,000 square feet.  Then, fifty or so priced in the middle.  There have been about 60 units sold over the past month so the market up there is reasonable balanced.

Andrew Smith - RealtorLiving in Kelowna,
Andrew Smith
Royal LePage Kelowna
1-1890 Cooper Rd, Kelowna, BC V1Y 8B7
250-979-8066 or Toll Free 1-877-330-5884
Follow me on Twitter @smithap01

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